Heard the other day, SLB moved a big wireline group to the OKC office. How is that possible with below $30 bbl Oil? Enlighten me wise Mgmt......
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The "Pathfinder" component of Schlumberger has been relocated from Lafayette to a more "central" location in OK US. GOM facilities still in Lafayette AREA. It was a uprise to many locals they would incur this cost now, but I believe the facility they are moving to has been in the works for years (dollars already spent)...
Who knows. While most fools tend to believe the cover story of the Saudis trying to sink US shale, we were told directly by a very senior Schlumberger person who spoke to us from Paris that the whole situation was geo-political. So if they know that, as well connected as they are to political folks, they will probably know when things will shift back into gear.
Schlumberger Wireline is what the company was founded on and they are rebuilding that empire. They rule the market and are taking the downturn as an opportunity to push hallibaker out. Go big or go home.